The “Execution” Director/MD
Do any of your guys’ groups have an indispensable D/MD whose job is solely execution? It’s my understanding that these guys are more commonly found at MM banks as the bigger guys want seniors to start developing biz. I’ve found at my MM that execution directors and MDs are some of the smartest and most patient guys you will ever work with in IB -- never afraid to get their hands dirty. They typically are either more introverted or want to spend more time with the family. Do any of you guys have similar experiences?
You perfectly described an M&A MD in my bank. Crazy how accurate this is.
They better be willing to get their hands dirty haha…..otherwise they’re just a $1M cost line for the bank
patient?
No. Why would a bank pay someone director or MD money that doesn’t bring in revenue. If the director is doing pure execution, wtf are the VPs doing?
This is my question always with an “execution” senior. The whole point of mid levels and juniors is execution. Wtf is an MD doing that qualifies as “execution”?
The coverage MD should be the one helping with things like marketing materials and model forecast (at a high level) and the VP should be the one dealing with execution stuff day to day. All “execution” at the MD level is basically client management or process strategy, I can’t think of a single “execution” related task that an MD would be doing
Pretty much every person in a product group is “execution”. Senior people will help with things like structuring JVs, negotiating terms and deal docs like SHAs and SPAs - things that bankers below D wouldn’t be trusted to do.
are you not describing....standalone M&A groups in like half the banks on wall street?
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